“What Warren Buffett calls a moat, something that protects the company from competition and allows it to earn above average returns on capital for long periods.”

“This is what Warren Buffett calls a moat. That moat could be a powerful brand, a massive consumer base, or a cost advantage.”

“A competitive advantage, discussed as crucial for investable AI businesses.”

“The real moat is just a sequence of smaller moes stacked together.”